Bamco Inc. NY Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by on Jun 14th, 2023

Bamco Inc. NY lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 33.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 955,485 shares of the e-commerce giant’s stock after selling 482,114 shares during the period. Bamco Inc. NY’s holdings in Amazon.com were worth $80,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in Amazon.com by 1.8% in the third quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock worth $79,275,249,000 after purchasing an additional 12,456,995 shares during the last quarter. State Street Corp lifted its position in shares of Amazon.com by 1.0% during the 3rd quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after buying an additional 3,121,516 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Amazon.com by 1,838.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after buying an additional 295,880,050 shares during the last quarter. FMR LLC lifted its position in shares of Amazon.com by 1,792.4% during the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after buying an additional 270,931,640 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 161,534,790 shares of the e-commerce giant’s stock valued at $13,541,345,000 after buying an additional 3,875,615 shares during the last quarter. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMZN shares. Sanford C. Bernstein upped their price target on Amazon.com from $125.00 to $140.00 in a research report on Wednesday, May 31st. Wedbush upped their price target on Amazon.com from $125.00 to $129.00 in a research report on Friday, April 28th. Evercore ISI dropped their price target on Amazon.com from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Monday, April 3rd. JPMorgan Chase & Co. upped their price target on Amazon.com from $135.00 to $145.00 in a research report on Friday, April 28th. Finally, Wolfe Research increased their price objective on Amazon.com from $130.00 to $140.00 in a report on Friday, April 28th. Three analysts have rated the stock with a hold rating and forty-one have given a buy rating to the company. According to data from MarketBeat.com, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $145.28.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $126.27, for a total transaction of $63,135.00. Following the transaction, the chief executive officer now directly owns 152,780 shares in the company, valued at approximately $19,291,530.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $102.25, for a total value of $409,000.00. Following the sale, the chief executive officer now directly owns 556,298 shares in the company, valued at approximately $56,881,470.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $126.27, for a total value of $63,135.00. Following the completion of the sale, the chief executive officer now owns 152,780 shares in the company, valued at $19,291,530.60. The disclosure for this sale can be found here. Insiders have sold a total of 75,644 shares of company stock worth $8,576,262 in the last ninety days. 12.70% of the stock is owned by insiders.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $126.66 on Wednesday. The business’s 50-day moving average price is $111.26 and its 200-day moving average price is $100.38. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.43. Amazon.com, Inc. has a 12 month low of $81.43 and a 12 month high of $146.57. The firm has a market capitalization of $1.30 trillion, a PE ratio of 301.57, a price-to-earnings-growth ratio of 2.40 and a beta of 1.26.

Amazon.com (NASDAQ:AMZN – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. Amazon.com had a return on equity of 5.85% and a net margin of 0.82%. The business had revenue of $127.36 billion for the quarter, compared to analyst estimates of $124.57 billion. During the same period last year, the company earned $0.21 EPS. Amazon.com’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that Amazon.com, Inc. will post 1.56 EPS for the current fiscal year.

Amazon.com Company Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.

Further Reading

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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